Porsche: Detroit is just a waste of time

Discussion in 'Wall St. News' started by a529612, Jun 11, 2007.

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    Prevail Guest

    worst economy in the country.
  2. Any plans for a turn around there, perhaps time to do some bottom fishing in RE, etc.
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    Prevail Guest

    foreclosed homes are selling for less than cars, less than 30k in some instances.
  4. im originally from detroit..all my family lives there (suburbs)
    i wouldnt go near residential..
    commercials has not come in at all..in fact has gone up ..as everyone runs for safety

    apt buildings look like decent buys...cause people are renting now instead of buying (cause it may take 2 yrs to sell ur house if you try to get out)..until you hear of ANYONE in detroit ADDING jobs...its catching a falling knife...and just like the market... in a down tape...u buy relative strenght..not the weakest name on the board

    i'd say soon..but not yet (1 to 2 yrs out)..wait for an uptick..then pull trigger... prices are way below 2-3 yr ago prices

  5. TGregg


    I went to the Detroit Auto Show several times. You'd see all these awesome concept cars, and be drooling about the next year - then they'd come out with a slightly new flavor of the same old stuff.

    Got tired of having my dreams dashed, so I stopped going.
  6. I'm 30 min north of detroit in rochester hills.

    Based on the research and comps, my house that I bought in 2005 for 182k is sitting around 178k right now. I think the timeframe of a 2-3 years is accurate to wait for the trend to change. IMO, there are/were too many builders thinking they could get rich, rushing to build 400k+ homes.